Teacher Retirement System of Texas decreased its position in shares of Raytheon Co. (NYSE:RTN) by 4.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 214,825 shares of the company’s stock after selling 10,864 shares during the period. Teacher Retirement System of Texas owned about 0.07% of Raytheon worth $29,244,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Archford Capital Strategies LLC increased its position in Raytheon by 0.3% in the second quarter. Archford Capital Strategies LLC now owns 2,898 shares of the company’s stock valued at $394,000 after buying an additional 8 shares during the last quarter. HM Capital Management LLC increased its position in Raytheon by 0.5% in the third quarter. HM Capital Management LLC now owns 1,995 shares of the company’s stock valued at $272,000 after buying an additional 10 shares during the last quarter. Founders Capital Management LLC increased its position in Raytheon by 0.5% in the third quarter. Founders Capital Management LLC now owns 2,304 shares of the company’s stock valued at $314,000 after buying an additional 12 shares during the last quarter. Northstar Group Inc. increased its position in Raytheon by 0.4% in the second quarter. Northstar Group Inc. now owns 4,017 shares of the company’s stock valued at $546,000 after buying an additional 15 shares during the last quarter. Finally, Ausdal Financial Partners Inc. increased its position in Raytheon by 0.6% in the second quarter. Ausdal Financial Partners Inc. now owns 2,463 shares of the company’s stock valued at $335,000 after buying an additional 15 shares during the last quarter. Institutional investors own 75.99% of the company’s stock.

Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

Raytheon Co. (NYSE:RTN) traded up 0.11% during trading on Wednesday, hitting $150.70. 292,575 shares of the stock were exchanged. Raytheon Co. has a 1-year low of $115.73 and a 1-year high of $152.58. The firm has a market capitalization of $44.25 billion, a price-to-earnings ratio of 20.12 and a beta of 0.62. The company has a 50-day moving average price of $140.79 and a 200 day moving average price of $137.97.

Raytheon (NYSE:RTN) last posted its earnings results on Thursday, October 27th. The company reported $1.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.64 by $0.15. The business had revenue of $6 billion for the quarter, compared to analysts’ expectations of $6.04 billion. Raytheon had a net margin of 9.26% and a return on equity of 19.98%. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.47 EPS. Equities analysts predict that Raytheon Co. will post $7.46 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 2nd. Shareholders of record on Wednesday, January 4th will be paid a dividend of $0.7325 per share. This represents a $2.93 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Friday, December 30th. Raytheon’s dividend payout ratio is currently 39.12%.

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Several research firms have weighed in on RTN. Argus restated a “buy” rating and set a $161.00 price objective on shares of Raytheon in a report on Wednesday, August 3rd. Vertical Research began coverage on shares of Raytheon in a report on Friday, October 28th. They set a “buy” rating and a $154.00 price objective on the stock. Zacks Investment Research upgraded shares of Raytheon from a “sell” rating to a “hold” rating in a report on Tuesday, November 1st. Citigroup Inc. upped their price objective on shares of Raytheon from $145.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday, September 6th. Finally, Robert W. Baird initiated coverage on shares of Raytheon in a research note on Thursday, October 6th. They issued an “outperform” rating and a $170.00 target price for the company. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $149.62.

About Raytheon

Raytheon Company (Raytheon), together with its subsidiaries, is a technology company. The Company develops technologically integrated products, services and solutions in various markets, such as sensing; effects; command, control, communications, computers, cyber and intelligence (C5I); mission support, and cybersecurity.

5 Day Chart for NYSE:RTN

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